{"product_id":"principles-of-microeconomics-supply-and-demand","title":"Principles of Microeconomics: Supply and Demand","description":"\u003cmeta charset=\"utf-8\"\u003e\n\u003cp\u003eEconomics may have a reputation as a dismal science, but in fact it addresses some of the most fundamental problems we face: How to make the best decision given that resources are limited. You can use the tools of microeconomics to decide how best to spend your income; how best to divide your time among leisure activities; or how many people to hire in the business you run. Life is full of choices. Microeconomics can help you decide how to make them.\u003c\/p\u003e\n\u003cp\u003eYou may not realize it, but every time you purchase something, you are participating in a market for that good. Some people supply it, and some people—you!—demand it. \u003c\/p\u003e\n\u003cp\u003eIn this course, you will learn how to analyze supply and demand curves and the impact changes in market conditions and government policy can have on market equilibrium.\u003c\/p\u003e\n\u003cmeta charset=\"utf-8\"\u003e\n\u003ch3\u003eAfter taking this course, you'll be able to:\u003c\/h3\u003e\n\u003cmeta charset=\"utf-8\"\u003e\n\u003cul\u003e\n\u003cli\u003e\u003cspan style=\"color: #ff0000;\"\u003e\u003cstrong data-redactor-tag=\"strong\"\u003eunderstand shifts in supply and demand and their implications for price and quantity sold\u003cbr\u003e\u003c\/strong\u003e\u003c\/span\u003e\u003c\/li\u003e\n\u003cli\u003e\u003cspan style=\"color: #ff0000;\"\u003e\u003cstrong data-redactor-tag=\"strong\"\u003eanalyze how consumers respond to a shift in the price of the goods they consume\u003cbr\u003e\u003c\/strong\u003e\u003c\/span\u003e\u003c\/li\u003e\n\u003cli\u003e\u003cspan style=\"color: #ff0000;\"\u003e\u003cstrong data-redactor-tag=\"strong\"\u003euse the above knowledge as the foundation for future economic analyses in other aspects of microeconomics\u003c\/strong\u003e\u003c\/span\u003e\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003cmeta charset=\"utf-8\"\u003e\n\u003cdl class=\"syllabus__section is-clickable active\" data-bindattr-507=\"507\"\u003e\n\u003cdt class=\"syllabus__lesson-title u-pl\"\u003e\n\u003ch3\u003e1. Getting Started - \u003cspan style=\"color: #ff0000;\"\u003e2 minutes\u003c\/span\u003e\n\u003c\/h3\u003e\n\u003c\/dt\u003e\n\u003cdd class=\"syllabus__lesson-item-container\"\u003e1. What Do You Already Know?\u003c\/dd\u003e\n\u003c\/dl\u003e\n\u003cdl class=\"syllabus__section is-clickable\" data-bindattr-515=\"515\"\u003e\n\u003cdt class=\"syllabus__lesson-title u-pl\"\u003e\n\u003ch3\u003e2. Supply and Demand - \u003cspan style=\"color: #ff0000;\"\u003e7 minutes\u003c\/span\u003e\n\u003c\/h3\u003e\n\u003c\/dt\u003e\n\u003cdd class=\"syllabus__lesson-item-container\"\u003e1. Overview of Supply and Demand\u003c\/dd\u003e\n\u003cdd class=\"syllabus__lesson-item-container\"\u003e2. Impact of a Supply Shift\u003c\/dd\u003e\n\u003c\/dl\u003e\n\u003cdl class=\"syllabus__section is-clickable\" data-bindattr-522=\"522\"\u003e\n\u003cdt class=\"syllabus__lesson-title u-pl\"\u003e\n\u003ch3\u003e3. Government Intervention - \u003cspan style=\"color: #ff0000;\"\u003e18 minutes\u003c\/span\u003e\n\u003c\/h3\u003e\n\u003c\/dt\u003e\n\u003cdd class=\"syllabus__lesson-item-container\"\u003e1. Government Interference: Gasoline Prices\u003c\/dd\u003e\n\u003cdd class=\"syllabus__lesson-item-container\"\u003e2. Costs and Benefits of Government Intervention\u003c\/dd\u003e\n\u003c\/dl\u003e\n\u003cdl class=\"syllabus__section is-clickable\" data-bindattr-529=\"529\"\u003e\n\u003cdt class=\"syllabus__lesson-title u-pl\"\u003e\n\u003ch3\u003e4. Government Intervention Case Study - \u003cspan style=\"color: #ff0000;\"\u003e8 minutes\u003c\/span\u003e\n\u003c\/h3\u003e\n\u003c\/dt\u003e\n\u003cdd class=\"syllabus__lesson-item-container\"\u003e1. Government Intervention: Water Shortages\u003c\/dd\u003e\n\u003c\/dl\u003e\n\u003cdl class=\"syllabus__section is-clickable\" data-bindattr-534=\"534\"\u003e\n\u003cdt class=\"syllabus__lesson-title u-pl\"\u003e\n\u003ch3\u003e5. Wrapping Up - \u003cspan style=\"color: #ff0000;\"\u003e2 minutes\u003c\/span\u003e\n\u003c\/h3\u003e\n\u003c\/dt\u003e\n\u003cdd class=\"syllabus__lesson-item-container\"\u003e1. What Do You Know Now?\u003c\/dd\u003e\n\u003cdd class=\"syllabus__lesson-item-container\"\u003e2. Additional Resources\u003c\/dd\u003e\n\u003c\/dl\u003e\n\u003cmeta charset=\"utf-8\"\u003e\n\u003cp\u003e\u003cspan style=\"color: #444444;\"\u003e\u003cspan\u003eJonathan Gruber. \u003c\/span\u003e\u003cem\u003e14.01SC Principles of Microeconomics, Fall 2011\u003c\/em\u003e\u003cspan\u003e. (Massachusetts Institute of Technology: MIT OpenCourseWare), \u003c\/span\u003e\u003ca href=\"http:\/\/ocw.mit.edu\/courses\/economics\/14-01sc-principles-of-microeconomics-fall-2011\" target=\"_blank\"\u003ehttp:\/\/ocw.mit.edu\u003c\/a\u003e\u003cspan\u003e (Accessed 11 Jun, 2015). License: \u003c\/span\u003e\u003ca href=\"http:\/\/creativecommons.org\/licenses\/by-nc-sa\/4.0\/\"\u003eCreative Commons BY-NC-SA\u003c\/a\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e","brand":"MIT Open Courseware","offers":[{"title":"Default Title","offer_id":6928754881,"sku":"","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0817\/1429\/products\/course-11.jpeg?v=1443621471","url":"https:\/\/piers-test-store.myshopify.com\/products\/principles-of-microeconomics-supply-and-demand","provider":"The Test Store","version":"1.0","type":"link"}